According to a recent study, the United States is home to about one in every three ultra-high net worth individuals — those with $30 million or more in total assets. At last count, 65,000 U.S. residents possess more than $9 trillion.
Earlier this week, wealth research group Wealth-X and UBS released their World Ultra Wealth Report for 2013, a comprehensive analysis of the global ultra-high net worth population. Based on that report, 24/7 Wall St. identified the 10 nations with the most ultra-wealthy residents. These are the nations with the most multimillionaires.
Most of the nations where the ultra-wealthy live are themselves rich. Of the 10 countries with the largest ultra-high net worth populations, seven have a per capita gross domestic product of $35,000 and are among the top 25 nations in the world by that measure. The U.S. had an estimated per capita GDP of $49,922 as of 2012.
The majority of these nations have large populations. China and India each have more than 1.2 billion inhabitants. Brazil, Japan and the U.S., which all are among the top ten for most multimillionaires, each have more than 100 million residents
Top 10 Heal Care Stocks For 2014: Pathfinder Bancorp Inc.(PBHC)
Pathfinder Bancorp, Inc. operates as the holding company for Pathfinder Bank that offers banking products and services to individuals, families, and businesses primarily in Oswego and parts of Onondaga counties of New York. It offers various deposit products, including demand deposits, NOW accounts, savings accounts, time deposits, passbook savings, money management and money market deposit accounts, and interest-bearing and noninterest-bearing checking accounts. The company also originates commercial and residential real estate loans; commercial loans, including loans to municipalities; and consumer loans, such as second mortgage loans, home equity lines of credit, and direct installment and revolving credit loans. It operates through seven full-service offices. The company was founded in 1859 and is headquartered in Oswego, New York. Pathfinder Bancorp, Inc. is a subsidiary of Pathfinder Bancorp, M.H.C.
Top 10 Heal Care Stocks For 2014: Cummins Inc.(CMI)
Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric power generation systems, and engine-related component products worldwide. It operates in four segments: Engine, Power Generation, Components, and Distribution. The Engine segment offers a range of diesel and natural gas powered engines under the Cummins and other customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail, and governmental equipment markets. This segment also provides new parts and service, as well as remanufactured parts and engines. The Power Generation segment offers power generation systems, components, and services, including diesel, natural gas, gasoline, and alternative-fuel electrical generator sets for use in recreational vehicles, commercial vehicles, recreational marine applications, and home stand-by or residential applications. This segment also provides components that make up power generation systems, such as engines, controls, alternators, transfer switches, and switchgears. The Components segment supplies filtration products, turbochargers, aftertreatment systems, intake and exhaust systems, and fuel systems for commercial diesel applications. This segment offers filtration and exhaust systems for on-and off-highway heavy-duty and mid-range equipment, as well as supplies filtration products for industrial and passenger car applications. This segment also develops after treatment and exhaust systems to help customers meet emissions standards and fuel systems. The Distribution segment provides parts and services, as well as service solutions, including maintenance contracts, engineering services, and integrated products. The company sells its products to original equipment manufacturers, distributors, and other customers. Cummins Inc. was founded in 1919 and is headquartered in Columbus, Indiana.
Advisors' Opinion:- [By Sean Williams]
Second, fuel cost control has been crucial, and will remain a key component to Swift's success. Swift is handling its fuel costs this by maximizing the operating efficiency of its tractor and trailer fleet, and by partnering up with natural gas diesel engine manufacturer Cummins (NYSE: CMI ) . The goal of this partnership is to develop natural gas engines that get comparable mileage to diesel at a cheaper cost, and when combined with increased CNG fueling stations around the U.S. operated by Clean Energy Fuels (NASDAQ: CLNE ) , create a win-win scenario for all parties involved. To that end, Swift's fuel operating costs should drop, Cummins will have a steady stream of business, Clean Energy Fuels gets a large fueling customer under its belt that will help with building out its fuel station infrastructure, and the world gets fewer emissions from burning diesel.
- [By Michael Flannelly]
Diesel Engines maker Cummins Inc. (CMI) had its price target and earnings estimates raised by analysts at Jefferies on Thursday, following a positive analyst day.
The analysts rate CMI as “Hold” and now see shares reaching $130, which suggests a slight downside to the stock’s Wednesday closing price of $133.72.
Cummins shares were up 46 cents, or 0.34%, during morning trading on Thursday. The stock is up 23.51% year-to-date.
- [By Brian Stoffel]
I'm going to attempt something a little odd today, Fools. Even though I recently bought shares �of engine-maker�Cummins (NYSE: CMI ) I'm going to be giving you three reasons to consider selling Cummins stock today.
- [By Dan Caplinger]
So far, companies have looked to reduce costs in a number of ways. Wal-Mart (NYSE: WMT ) has looked at paying for health-related travel costs to get patients suffering from heart and spine ailments to hospitals with better track records of success. Cummins (NYSE: CMI ) has already moved some workers to high-deductible health plans that put more of the onus on employees to control their health care costs, but it has also implemented wellness programs to try to encourage healthier living that reduces the likelihood of incurring high costs from chronic conditions later in life.
Best Warren Buffett Stocks To Invest In Right Now: Eurasian Minerals Inc. (EMX.V)
Eurasian Minerals Inc., together with its subsidiaries, engages in the acquisition and exploration of precious and base metals properties primarily in Turkey, Haiti, the Kyrgyz Republic, Sweden, North America, Australia, and the Asia-Pacific region. The company principally explores for gold, copper, silver, porphyry, lead, zinc, arsenic, and molybdenum. It has a strategic alliance with Antofagasta Minerals S.A. for copper exploration in Sweden. The company is headquartered in Vancouver, Canada.
Top 10 Heal Care Stocks For 2014: BSQUARE Corporation(BSQR)
Bsquare Corporation provides software and engineering services to the smart device marketplace primarily in North America and Taiwan. Its proprietary software products include CountDown, a software testing automation tool that provides test solutions to test smart devices; TestQuest Pro, a test automation tool to test embedded systems, including digital entertainment, telecom/datacom, military/aerospace and medical devices, as well as automation systems for industry, retail, offices, buildings, and homes; SDIO Hx that allows small form-factor peripheral and memory cards to be used with smart devices; TI Windows CE BSP for various mobile and embedded device designs; and SchemaBSP, a tool that reduces customer development efforts. The company also offers third-party software products. Its engineering service offerings comprise software and hardware design and development; platform development systems integration; radio interface layer development and testing; application, mi ddleware, and multimedia software development; Adobe Flash Lite Player porting and Flash User Interface development; quality assurance and testing; hardware design, prototype, and product development; device solution strategy consulting; mechanical and ID design; technical support; implementation; and training. The company?s customers comprise original equipment manufacturers, original design manufacturers, and enterprises, as well as silicon vendors and peripheral vendors. Bsquare Corporation was founded in 1994 and is headquartered in Bellevue, Washington.
Top 10 Heal Care Stocks For 2014: Prudential Financial Inc (PRH)
Prudential Financial, Inc. (Prudential Financial) is a financial services company. Prudential Financial has operations in the United States, Asia, Europe and Latin America. Through its subsidiaries and affiliates, the Company offers an array of financial products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. It offers these products and services to individual and institutional customers through proprietary and third party distribution networks. Prudential Financial has two businesses: the Financial Services Businesses and the Closed Block Business. The Financial Services Businesses consists of its United States Retirement Solutions and Investment Management division, United States Individual Life and Group Insurance division, and International Insurance division, as well as its Corporate and Other operations. The Closed Block Business consists of the assets and related liabilities of the Closed Block described below and certain related assets and liabilities. On January 1, 2012, it merged with Gibraltar Life Insurance Company, Ltd (Gibraltar Life).
On February 1, 2011, Prudential Financial completed the acquisition from American International Group, Inc. (AIG), of AIG Star Life Insurance Co., Ltd. (Star), AIG Edison Life Insurance Company (Edison), and certain other AIG subsidiaries. In July 2011, it sold its global commodities business to Jefferies Group, Inc. In November 2011, it acquired an office building located in downtown Chicago's Central Loop. On December 06, 2011, the Company announced the sale of Prudential Real Estate and Relocation Services (PRERS), the Company's real estate brokerage and relocation services unit, to Brookfield Residential Property Services.
Financial Services Businesses
The Financial Services Businesses consist of three operating divisions, which together encompass six segments, and its Corporate and Other operations. The United States Retirement Solutions an! d Investment Management division consists of its Individual Annuities, Retirement and Asset Management segments. The United States Individual Life and Group Insurance division consists of its Individual Life and Group Insurance segments. The International Insurance division consists of its International Insurance segment. Its Corporate and Other operations include corporate items and initiatives that are not allocated to business segments, as well as businesses that have been or will be divested.
The Individual Annuities segment manufactures and distributes individual variable and fixed annuity products, primarily to the United States market. The Company�� annuity products are distributed through a diverse group of independent financial planners, wirehouses, banks, and insurance agents, including Prudential Agents and the agency distribution force of The Allstate Corporation (Allstate). It offers variable annuities that provide its customers with tax-deferred asset accumulation together with a base death benefit and a suite of optional guaranteed death and living benefits. Its variable annuity investment options provide the customers with the opportunity to invest in proprietary and non-proprietary mutual funds, frequently under asset allocation programs, and fixed-rate accounts. The Company�� prudential agents distribute variable annuities with proprietary and non-proprietary investment options, as well as fixed annuities. Its individual annuity products are also offered through a range of third party channels, including independent brokers, wirehouses, banks, and Allstate�� proprietary distribution force.
The Company�� retirement segment, which is referred as Prudential Retirement, provides retirement investment and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors. Its full service business provides recordkeeping, plan administration, actuarial advisory services, tailored participant education and communicati! on servic! es, trustee services and institutional and retail investments. It services defined contribution, defined benefit and non-qualified plans. For participants leaving the clients��plans, it provides a range of rollover products through its broker-dealer, Prudential Investment Management Services LLC, its bank, Prudential Bank & Trust, FSB (PB&T), and certain of its insurance companies. Its institutional investment products business offers guaranteed investment contracts (GICs), funding agreements, institutional and retail notes, structured settlement annuities, and group annuities, for defined contribution plans, defined benefit plans, non-qualified plans, and individuals.
The Company�� full service business offers plan sponsors and their participants a range of products and services to assist in the delivery and administration of defined contribution, defined benefit, and non-qualified plans, including recordkeeping and administrative services, comprehensive investment offerings and consulting services to assist plan sponsors in managing fiduciary obligations. As part of its investment products, it offers a range of general and separate account stable value products and other fee-based separate accounts, as well as retail mutual funds and institutional funds advised by affiliated and non-affiliated investment managers.
It also offers fee-based separate account products, through which customer funds are held in a separate account, retail mutual funds, institutional funds, or a client-owned trust. These products generally pass all of the investment results to the customer. In addition, it offers guaranteed minimum withdrawal benefits associated with certain defined contribution accounts, and hedge certain of the related risks utilizing externally purchased hedging instruments. It also offers a range of rollover solutions, including individual retirement accounts, mutual funds, and guaranteed income products. Its rollover products and services are marketed to participants who ter! minate or! retire from organizations that are clients of its retirement plan recordkeeping services.
The Asset Management segment provides an array of investment management and advisory services by means of institutional portfolio management, mutual funds, asset securitization activity and other structured products, and strategic investments. These products and services are provided to the public and private marketplace, as well as its United States Individual Life and Group Insurance division, International Insurance division and Individual Annuities and Retirement segments, as well as the Closed Block Business. Its products and services include Public Fixed Income Asset Management, Public Equity Asset Management, Private Fixed Income Asset Management, Commercial Mortgage Origination and Servicing, Real Estate Asset Management, Strategic Investments, and Mutual Funds and Other Retail Services.
The public fixed income organization manages fixed income portfolios for United States and international, institutional and retail clients, as well as for its general account. Its products include traditional broad market fixed income strategies and single-sector strategies. It manages traditional asset-liability strategies, as well as customized asset-liability strategies. It also manages hedge strategies, as well as collateralized loan obligations. It also serves as a non-custodial securities lending agent. The public equity organization provides discretionary and non-discretionary asset management services to a range of clients. It manages an array of publicly-traded equity asset classes using various investment styles. The public equity organization is consisted of two wholly owned registered investment advisors, Jennison Associates LLC and Quantitative Management Associates LLC.
The private fixed income organization provides asset management services by investing in private placement investment grade debt, private placement below investment grade debt, and mezzanine debt securi! ties. The! se investment capabilities are utilized by its general account and institutional clients through direct advisory accounts, insurance company separate accounts, and private fund structures. The commercial mortgage operations provide mortgage origination, asset management and servicing for its general account, institutional clients, and government-sponsored entities, such as Fannie Mae, the Federal Housing Administration, and Freddie Mac. It also originated shorter-term interim loans for spread lending that are collateralized by assets generally under renovation or lease up
The global real estate organization provides asset management services for single-client and commingled private and public real estate portfolios and manufactures and manages a range of real estate investment vehicles investing in private and public real estate, primarily for institutional clients through 22 offices worldwide. Its domestic and international real estate investment vehicles range from fully diversified open-end funds to specialized closed-end funds that invest in specific types of properties or specific geographic regions or follow other specific investment strategies. The Company makes strategic investments to support the creation and management of funds offered to third-party investors in private and public real estate, fixed income and public equities asset classes. Other strategic investments are made with the intention to sell or syndicate to investors, including its general account, or for placement in funds and structured products that it offers and manages. It also makes loans to, and guarantees obligations of, the Company�� managed funds that are secured by equity commitments from investors or assets of the funds.
The Company manufactures, distributes and services investment management products primarily utilizing asset management expertise in the United States retail market. Its products are designed to be sold primarily by financial professionals, including both Prudential Agents an! d third p! arty advisors. It offers a family of retail investment products consisting of 41 mutual funds as of December 31, 2011. These products cover an array of investment styles and objectives designed to retain assets of individuals with varying objectives and to accommodate investors��changing financial needs. In addition, it offers banks and other financial services organizations a wealth management platform, which permits, such banks and organizations to provide their retail clients with services, including asset allocation, investment manager research and access, clearing, trading services, and performance reporting. The U.S. Individual Life and Group Insurance division conducts its business through the Individual Life and Group Insurance segments. Its Individual Life segment manufactures and distributes individual variable life, term life and universal life insurance products primarily to the U.S. mass middle, mass affluent and affluent markets. During 2011, its primary insurance products are variable life, term life and universal life and represent 41%, 49% and 9%, respectively, of its face amount of individual life insurance in force, net of reinsurance.
The Group Insurance segment manufactures and distributes a range of group life, long-term and short-term group disability, long-term care, and group corporate-, bank- and trust-owned life insurance in the United States primarily to institutional clients for use in connection with employee and membership benefits plans. Group Insurance also sells accidental death and dismemberment, preferred provider and indemnity dental and other ancillary coverages, and provides plan administrative services in connection with its insurance coverages. It offers group life insurance products, including employer-pay (basic) and employee-pay (voluntary) coverages. This portfolio of products includes basic and supplemental term life insurance for employees, optional term life insurance for dependents of employees and group universal life insurance. It also of! fers grou! p variable universal life insurance, basic and voluntary accidental death and dismemberment insurance and business travel accident insurance. It also offers a living benefits option that allows insureds that are diagnosed with a terminal illness to receive a portion of their life insurance benefit upon diagnosis, in advance of death, to use as needed.
The Company�� International Insurance segment manufactures and distributes individual life insurance, retirement and related products, including certain health products with fixed benefits. It provides these products to the broad middle income market across Japan through multiple distribution channels, including Life Advisors, who are associated with its Gibraltar Life operations. It also provides similar products to the mass affluent and affluent markets in Japan, Korea and other countries outside the United States through its Life Planner operations. It also offers variable life products in Japan, Korea, Taiwan and Poland and interest-sensitive life products in all countries with the exception of Brazil and Mexico. In most of its operations, it also offers certain health products with fixed benefits, some of which include a high savings element. In addition, similar products are offered to the middle income market across Japan through Life Advisors, the distribution channel of the Company�� Gibraltar Life Insurance Company, Ltd. (Gibraltar Life) operation.
The Company�� international insurance operations offer various traditional whole life, term life, endowment policies, which provide for payment on the earlier of death or maturity and retirement income life insurance products that combine an insurance protection element similar to that of term life policies with a retirement income feature. It also offers variable life products in Japan, Korea, Taiwan and Poland and interest-sensitive life products in all countries. It also offers certain health products with fixed benefits, as well as annuity products, which are primari! ly repres! ented by United States and Australian dollar-denominated fixed annuities in its Gibraltar Life operations.
Closed Block Business
The Closed Block Business includes liabilities for its individual in participating products, together with assets that are used for the payment of benefits and policyholder dividends, expenses and taxes with respect to these products. The Closed Block is 90% reinsured, including 7% by a wholly owned subsidiary of Prudential Financial. During 2011, the Company also reinsured 90% of the short-term risks associated with the Closed Block policies to a wholly owned subsidiary of Prudential Financial.
Top 10 Heal Care Stocks For 2014: Autocanada Inc (ACQ.TO)
AutoCanada Inc., through its subsidiaries, operates franchised automobile dealerships in Canada. The company offers various automotive products and services, including new and used vehicles, vehicle parts, vehicle maintenance and collision repair services, vehicle protection products, and other after-market products. It sells various new vehicle brands, including Chrysler, Dodge, Jeep, Ram, Fiat, Hyundai, Nissan, Infiniti, Volkswagen, Mitsubishi, and Subaru. The company also arranges financing for customers through third-party financial institutions, as well as facilitates the sale of third party insurance products to customers, including credit and life insurance policies, and extended service contracts. As of March 22, 2012, it operated 24 franchised dealerships in British Columbia, Alberta, Manitoba, Ontario, New Brunswick, and Nova Scotia. AutoCanada Inc. was founded in 2006 and is headquartered in Edmonton, Canada.
Top 10 Heal Care Stocks For 2014: Compliance Energy Corporation (CEC.V)
Compliance Energy Corporation engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company�s primarily holds interest in approximately 31,000 hectares of coal rights on Vancouver Island, Canada, where the focuses on developing the Raven Underground Coal Project of which it holds a 60% interest. The company also holds various mineral exploration properties totaling approximately 24,000 hectares on Vancouver Island. Compliance Energy Corporation is headquartered in Vancouver, Canada.
Top 10 Heal Care Stocks For 2014: Sennen Resources Ltd. (SN.V)
Sennen Resources Ltd. engages in the acquisition and exploration of mineral properties. It holds an option to acquire 80% interest in the La Nava-El Paredon, a sulphide mineral deposit, which consists of 1 permit covering an area of 6 square kilometers and is located to the northwest of Cordoba in the Andalucia region of southern Spain. The company is headquartered in Vancouver, Canada.
Top 10 Heal Care Stocks For 2014: Rockwell Collins Inc (COL)
Rockwell Collins, Inc. (Rockwell Collins), incorporated on March 1, 2001, is engaged in design, production and support of communications and aviation electronics for commercial and military customers worldwide. The Company�� products and systems are primarily focused on aviation applications, The integrated system solutions and products it provide to its served markets include communications, navigation, automated flight control, displays/surveillance, simulation and training, integrated electronics and information management systems. The Company also provides a range of services and support to its customers through a network of service centers, including equipment repair and overhaul, service parts, field service engineering, training, technical information services and aftermarket used equipment sales. The Company operates in two segments: Government Systems and Commercial Systems.
Government Systems
The Company�� Government Systems business provides a range of electronic products, systems and services to customers, including the United States Department of Defense, other ministries of defense, other government agencies and defense contractors around the world. These products, systems and services support airborne, precision weapon, ground and maritime applications and are used in line-fit applications on new equipment, as well as in retrofit and upgrade applications designed. The Company�� defense-related systems, products and services include communications systems and products designed to enable the transmission of information across the communications spectrum, including satellite communications; navigation products and systems, including radio navigation products, global positioning system (GPS) equipment, handheld navigation devices and multi-mode receivers; avionics sub-systems for aircraft flight decks that combine flight operations with navigation and guidance functions that can include flight controls and displays, information/data processing and communicat! ions, navigation, safety and surveillance systems; cockpit display products, including multipurpose flat panel head-down displays, wide field of view head-up and helmet-mounted displays; simulation and training systems, including visual system products, training systems and services, and maintenance, repair, parts and after-sales support services.
Avionics consists of electronic solutions for a range of airborne platforms, including fixed and rotary wing aircraft, unmanned aerial vehicles (UAVs) and the associated aircrew and maintenance training devices and services. The Company provides complete avionics solutions (including cockpit avionics, mission system applications and system integration) and also provides individual avionics products to platform integrators. The Company serves various roles within these markets, including system and subsystems integrator, as well as provider of various electronic products. Communication products include spectrum voice and data connectivity for government and military use in the air, on the ground and at sea. Surface solutions include electronic systems applied to a variety of non-airborne market segments.
Commercial Systems
The Company�� Commercial Systems business supplies aviation electronics systems, products and services to customers located throughout the world. The customer base is consists of original equipment manufacturers (OEMs) of commercial air transport, business and regional aircraft, commercial airlines and business aircraft operators. The Company�� systems and products are used in both OEM applications, as well as in retrofit and upgrade applications designed.
The Company�� commercial aviation electronics systems, products and services include integrated avionics systems, such as Pro Line Fusion. Capabilities include synthetic and enhanced vision enabled flight displays, advanced flight and performance management systems, fly-by-wire integrated flight controls and information management! solution! s to improve operational efficiency; integrated cabin electronics systems, including cabin management systems, passenger connectivity and entertainment solutions, business support systems to improve passenger productivity and passenger flight information systems; communications systems and products, such as data link, high frequency, very high frequency and satellite communications systems; navigation systems and products, including landing sensors to enable automatic landings, radio navigation and geophysical sensors, as well as flight management systems; situational awareness and surveillance systems and products, such as synthetic and enhanced vision systems, surface surveillance and guidance solutions, head-up guidance systems, weather radar and collision avoidance systems; integrated information management solutions to improve the overall efficiency of flight, maintenance and cabin operations. These include on-board information management systems and connectivity solutions, airborne and ground applications and services, and ground infrastructure and services; electro-mechanical systems, including integrated pilot control solutions and primary and secondary actuation systems; simulation and training systems, including full-flight simulators for crew training, visual system products, training systems and engineering services, and maintenance, repair, parts, after-sales support services and aftermarket used equipment.
Air transport aviation electronics include avionics, cabin systems and flight control systems for commercial transport aircraft platforms. Business and regional aviation electronics include integrated avionics, cabin management and flight control systems for application on regional and business aircraft platforms. The Company develops integrated avionics, cabin and flight control solutions for business and regional aircraft OEMs and support them with the integration into other aircraft systems. Products offered for OEM applications in the business and regional aircraft cate! gory are ! marketed directly to the aircraft OEMs.
The Company competes with Honeywell International, Inc., Thales S.A., Panasonic, Raytheon Co., Harris Corp., BAE Systems Aerospace, Inc., General Dynamics Corporation, L3 Communications, Inc., The Boeing Company, Northrop Grumman Corp., CAE Inc., General Electric Co. and Garmin International Inc.
Advisors' Opinion:- [By Ben Levisohn]
Rockwell Collins (COL) has fallen 2.6% to $68.21 after it was downgraded to Neutral from Outperform at Credit Suisse.
General Electric (GE) has gained 1% to $24.25 after signing a bunch of deals and getting a positive mention from my colleague Jack Hough in this weekend’s Barron’s.
- [By Rich Smith]
The U.S. Department of Defense awarded multiple contractors shares in some 17 contracts Tuesday, valued at up to $1.3 billion in combined dollar value. Most of the funds awarded went to a series of 13 contractors working on a single cyber-defense project -- but there were a few other winners. Among them:
- [By Rich Smith]
The Department of Defense awarded Rockwell Collins (NYSE: COL ) a sizable "foreign military sales contract" on Monday.
Rockwell will upgrade a total of three Boeing (NYSE: BA ) KC-135R aerial refueling tankers for the French Air Force under a $44.5 million firm-fixed-price contract, installing the KC-135 Global Air Traffic Management Block 40 Upgrade for the airplanes. Work on the contract will be completed by Nov. 10, 2015.
Top 10 Heal Care Stocks For 2014: Taylor Capital Group Inc.(TAYC)
Taylor Capital Group, Inc. operates as the bank holding company for Cole Taylor Bank that provides a range of commercial banking products and services primarily to closely-held commercial customers and their owner operators in the Chicago area. It offers various deposit products, including checking, savings, and money market accounts, as well as time deposits, and other deposit and credit services to commercial clients and community-based customers, including individuals and small local businesses. The company?s commercial lending activities primarily consist of providing loans for working capital and business expansion or acquisition; owner-occupied commercial real estate financing; revolving lines of credit; and stand-by and commercial letters of credit. It also originates and sells mortgage loans. In addition, the company provides treasury cash management services, including repurchase agreements, Internet balance reporting, remote deposit capture, positive pay, automa ted clearing house products, imaged lock-box processing, controlled disbursement, and account reconciliation services to commercial clients; and investment management and brokerage services. Further, it offers asset-based financing, including revolving lines of credit supported by receivables and inventory; and term loans supported by equipment and real estate. The company?s target commercial lending customers include businesses engaged in various industries, such as manufacturing, wholesale and retail distribution, transportation, construction contracting, and professional services. It operates through nine banking centers in the Chicago area. The company was founded in 1929 and is headquartered in Rosemont, Illinois.
Advisors' Opinion:- [By Sean Williams]
What: Shares of Taylor Capital (NASDAQ: TAYC ) , the holding company of Cole Taylor Bank, a commercial and consumer lending and financial services company located in the Chicago area, skyrocketed as much as 22% after agreeing to be purchased by MB Financial (NASDAQ: MBFI ) .
- [By Rich Duprey]
Looking to expand its banking business in the Windy City, MB Financial (NASDAQ: MBFI ) jointly announced with Taylor Capital (NASDAQ: TAYC ) that it was buying the�holding company of�Cole Taylor�Bank, a Chicago-based commercial bank with $5.9 billion in assets, $3.3 billion in loans, and $3.7 billion in deposits.
- [By Rich Duprey]
Commercial banking concern Taylor Capital Group (NASDAQ: TAYC ) announced yesterday its third-quarter dividend of $0.50 per share on its�Series A perpetual non-cumulative preferred stock, which trades on the Nasdaq exchange under the symbol TAYCO.
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